Mangalore : The Runner Up position in the ASSOCHAM Social Banking Excellence Award 2013 has gone to Karnataka Bank, a well-known private sector bank.
The Award is given in recognition of the significant initiatives being undertaken by the Bank in the sphere of social banking.
Dr C Rangarajan, Chairman, Economic Advisory Council to the Prime Minister, handed over the award to P Jayaram Bhat, MD and CEO of the Bank at a function held at New Delhi on September 16, Monday.
The Bank has been extending banking services to the people in rural unbanked areas by opening Financial Inclusion branches and USBs (Ultra Small Branches) besides embarking upon BC model (Business Correspondent Model).The Bank has also surpassed the RBI prescribed mandatory lending targets under priority sector lending, including Agricultural and weaker section lending.